BUSINESS
Zomato acquires 15-minute delivery platform Blinkit for Rs 4,447 cr
Zomato already owned more than 9 per cent stake in Blinkit (earlier Grofers). While the earlier Blinkit deal value was around $700 million, the drop in Zomato's share price reduced it to $568 million. "This foray into the next big category is timely as our existing food business is steadily growing towards profitability," said Zomato CEO Deepinder Goyal.
Electricity used to mine bitcoin decreased sharply as crypto crisis widens
The electricity consumption of the bitcoin network has fallen by a third from its high of June 11, down to an annualised 131 terawatt-hours a year, according to estimates from the crypto analyst Digiconomist, The Guardian reported. That still equates to the annual consumption of Argentina, with a single conventional bitcoin transaction using the same amount of electricity that a typical US household would use over 50 days.
Indian EV players hail new govt standards for lithium-ion batteries
The BIS, which comes under the Union Consumer Affairs Ministry, has published the "performance standards for electronic vehicle batteries" in a bid to keep a strict control over the manufacturing of EV batteries. "There has never been a better time for the BIS performance standards for EV batteries to be implemented.
Bank unions defer June 27 strike as IBA agrees to start talks on July 1
The residual issues are like five-day week for bankers, hike in conveyance allowance to physically challenged employees, uniform banking hours in branches, improvement in medical insurance and staff welfare schemes, fitment to ex-servicemen employees, improvement in the pension rules as given to the Central government staff, special allowance in Northeastern states and others, Venkatachalam said.
Robust innovation at ITC's Life Sciences and Technology Centre powered its businesses in FY22
From waste reduction, environment conservation to quickly launching products tailored to the dynamic needs of the consumers, the company has recorded handsome achievements on multiple fronts through internal innovation and R&D. ITC continues to make significant progress in reducing specific waste generation through constant monitoring and improvement of efficiencies in material utilisation and also in achieving almost total recycling of waste generated in operations.
Qantas begins to shrink Covid debt with restart of travel
According to the latest financial year report, Qantas' debt peaked during the pandemic at more than A$6.4 billion ($4.42 billion) but was expected to fall to around A$4 billion by June 30, reports Xinhua news agency. The airline attributed the improvement to strong international and travel demand over the first half of 2022 since Australia lifted the majority of Covid-related travel restrictions.
Global PC monitor market sluggish in Q1, shipments to decline further
Amid a tough market, Dell with 22.4 per cent market share expanded its leadership position through its supply chain competency and commercial sales, reports the IDC. Overall, the market was a tale of two halves - the commercial market grew over 5 per cent while the consumer side declined 5 per cent. Samsung also saw year-over-year growth, buoyed in part by its leader status in the consumer monitor space.
Intel delays $20 bn semiconductor factory over US Chips Act
The chip-maker told ZDNet that it's not going ahead with the groundbreaking of Ohio facility as of now due to the ongoing delay of the CHIPS Act. "Unfortunately, CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act funding has moved more slowly than we expected and we still don't know when it will get done," Intel said in a statement on Thursday.
Ashneer Grover slams RBI over non-bank PPIs directive
In a tweet, Grover said that "not allowing loading of pre-paid instruments through credit is aimed at protecting bank's lazy credit card business from Fintech's potent BNPL (buy now pay later) business". "It's a flex move by banks -- rent seeking. But market is market and regulation will eventually come around to what market needs," he added.
Adani family commits Rs 60K crore for charity
Gautam Adani, Chairman of the Adani Group said, "In addition to being the 100th birth anniversary of my inspiring father, this year also happens to be the year of my 60th birthday and therefore the family decided to contribute Rs 60,000 crore towards charitable activities related to healthcare, education, and skill development, especially in the rural regions of our nation".
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